09
Oct
05:53
INSG forecasts nickel surplus for next three years
The International Nickel Study Group (INSG) has forecast nickel surpluses for the next three years, Kallanish notes.
INSG says in a statement that global nickel production will outpace demand. The implicit market balances are surpluses of 104,000 tonnes in 2022, 223,000t in 2023 and 239,000t in 2024.
Historically, market surpluses have been linked to LME deliverable/class I nickel, but in 2023 and 2024 the surplus will be mainly related to class II and nick…
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Very good overview of the weekly steel market.
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